Mortgage technology

From new appraisal alternatives to the use of blockchain to protect HMDA data, speakers sought to ensure the regulator had a handle on innovations that touch the secondary mortgage markets.

The New York-based company announced it will use ACES' quality management and control software.

While intercompany relationships are established in any environment, activity seems to pick up when business declines.

The latter company helped build a platform that served a similar purpose for a nonprofit entity during the Great Recession, and later continued to support an updated version of that technology.

Methods to combat the discrimination include lender disclosures explaining the process, industry guidance around reconsiderations of value, uniform 3D property scans and more automated valuation models easier to audit than manual valuations.

The partnership is starting off small but ultimately aims to sell real estate through non-fungible tokens on a broader scale than others have in the past.

The partnership allows prospective borrowers to upload bank or payroll information and work with loan officers online through the signing process.

The Federal Housing Administration also announced it would incorporate similar borrower history into its underwriting beginning at the end of October.

A Midwest lender is also laying off local employees while a Florida bank is shutting down its nationwide network of mortgage offices.

The Federal Housing Finance Agency's new office will assess technology solutions for an industry viewed by many as too slow to embrace digital efficiencies.